PRESS RELEASE

Zurich top line shows good growth in first 3 quarters

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Thursday, November 9, 2017

PRESS RELEASE - Zurich. This is an abridged version of the release. Read the full release.

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New business volumes and customer retention in Property & Casualty and Life are both up, while the Farmers Exchanges1 continue to deliver consistent growth. The Group is strongly capitalized and has continued to make progress against its strategic targets.

  • Property & Casualty (P&C) gross written premiums up 1% on a like-for-like basis, with improved new business and customer retention
  • Life APE sales up 1% on a like-for-like basis, with 17% growth in new business value reflecting continued focus on higher margin unit-linked and protection products
  • Continued top-line growth at Farmers Exchanges1, with premiums from continuing operations up 3% and a stable surplus ratio of 37.7%
  • Strong capital position with Z-ECM estimated at 136%2

"I am pleased with the development of our businesses in the year to date, particularly against a challenging industry backdrop in the third quarter. We expect the third quarter natural catastrophe events to drive improvements in pricing across our business," said Group Chief Financial Officer George Quinn. "New business volumes and customer retention in Property & Casualty and Life are both up, while the Farmers Exchanges1continue to deliver consistent growth. The Group is strongly capitalized and has continued to make progress against its strategic targets."